Updated: Condé Nast Folds Portfolio, Web Site

People have been writing Condé Nast Portfolio’s obit even before its costly launch in the spring of 2007.

The title, staffed by a who’s who of writers with former Wall Street Journal editor Joanne Lipman at the helm as editor, once promised to revolutionize the business category by presenting business coverage in an engaging, Vanity Fair-esque style.

But critics were deeply skeptical from the start of the concept of a magazine that could combine business and lifestyle in the same publication and in doing so attract a male-female audience and appeal to business and non-business advertisers alike.

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